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20121202
20121210
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in australia. pretty cool. >>> well, a new campaign that's meant to raise awareness about the deficit crisis, is getting lots of buzz. >> it calls on young folks to get serious about the deficit, and it stars former senator, alan simpson. >> stop instagraming your breakfast and tweeting your problems. and getting on youtube so you can see "gangnam style." >> he's got the moves. >> you go ahead, boy. >> 81-year-old alan simpson, right there, kicking it gangnam style. the can kicks back, a play on kicking the can down the road. that's simpson of simpson-bowles. >> that was the commission working to reduce the deficit. there's your commission chairman. whatever gets folks' attention, right? the work not in vain. there's your chairman. looking good, allen. break it down. looks good in everything. >>> you know those dog owners who swear that fido really genuinely is pretty smart. >> let's not offend all of the dog owners. they are smart. >> look at this. some proof here. experts are teaching dogs how to drive. they say it took only eight weeks for the canines to master the basics. >> it's part of
if you do what he wants to do on tax rates, you only affect 7% of the deficit. what we have done is, we have spend ourselves into a hole and we're not going to raise taxes, borrow money and get out of it. will i accept a tax increase as a part of a deal to actually solve our problems? yes. but the president is negotiating with the wrong people. he needs to be negotiating with our bondholders in china. because if we don't put a creditable plan on this, on the discussion, ultimately, we all lose. >> well, you got your colleague debbie stabenow, on the your screen as well, can you just say quickly what it is going to take? i want to see if she can accept the kind of entitlement reforms that you're thinking. >> well, we got to quit playing the game, george, you can't continue to lie to the american people. there is no way to fix medicare under the guidelines of aarp with our tax dollars are now advertising to say not fix it. the way we can fix it is to control the cost. the way to control the cost is to have more individual participation. there's a lot of ways to do that. but you can't play
benefits to help reduce the other deficits. >> to be clear that's one thing that's clearly off the table. social security is off the tables in these negotiations. >> in a separate process to strengthen social security not as a process to reduce the deficit. >>> on the issues of taxes, is there any flexibility on the president's position? does it have to go all the way back to the tax rates on the wealthy to the clinton levels? >> again, george, we think the best way to do this is to have those tax rates go back to where and one of the best, at one of the most prosperous times in recent american history to combine that reforms that limit reductions for 2%, i'm deeply skeptical about ways to get through this without that mix of rates and reforms. >> and if congress doesn't agree, you're comfortable going over that cliff on january 1st? >> there's no reason why 98% of americans have to see their taxes go up because some members of congress on the republican side want to block tax rate increase for 2% of the wealthy americans. remember, those tax cuts cost a trillion dollars over ten years.
% of income earners. republicans counted with a 2.2 trillion dollar deficit reduction plan, 800 billion dollars in revenue, but didn't call for raising tax rates on wealthy. the proposal was quickly ejected with the white house. >>> new -- rejected by the white house. >>> new poll shows -- gallup asked americans to rate honesty and ethical standards car salesmen got lowest marks 8% marked them high or very high. congress is just above them, only 10% scored in the top two categories to be honest. journalists 24%. top of the rankings, nurses, 84% of americans gave them the highest marks and of course meteorologists right behind that >> i was going to say even though it is not darn -- not a 100% science -- [ talking over each other ] >> 100% science that has accuracy, a little less -- okay stop digging. [ talking over each other ] >> they didn't rate meteorologists i wonder who is dragging who down? [ laughing ] >> touche. >>> good morning. here's a look at a dry picture from sutro tower across san francisco towards the east bay hills. live doppler, scattered sprinkles northwest corner son
're not experiencing a rainfall deficit.tk; >> 40 trees toppled because of the recent storms, today about a dozen fell and have caused more damage. we're live tonight with the story. >> that is right. on 14th avenue in the richmond district. i'm using this light to sort of help knee navigate around here. this massive pile that you can see here is only a section of the huge eucalyptus tree that came down this morning. need less to say, crews were busy. trees and roofs combined with heavy winds can cause an old tree to topple in a storm this, one happened to also fall on a car. >> winds blow. as bad as today, we're busy. >> crews cut it down. it's the city's responsibility to trim the trees. >> we don't have the number of trues that we'd like. in fact tree maintenance cycle is far short of that. it's a resource issue of money. >> some trees supposed to be maintained by homeowners. across town in san francisco russian hill neighborhood, this family narrowly escaped being hit by a huge cypress tree. one piece spearing through the master bedroom. >> fell over my head. one of the branches, the main trunk of
there. and what is missing is not only a deal, on long term deficit reduction. what smising is steps we can be taking now. >> if you own shares of oracle, next check will be bigger than usual. ora cell will pay next three dividends at once. the software giant joins a lift of companies moving dividends forward into the year to avoid a phone shall tax hike in january. and shares of pandora falling after the company says the loss will be wider than forecast. it wasn't all bad news, pan doora said sales rose 60% and profits rose 187%. stocks were little changed after the president held his ground about raising taxes to the highest income tern americans. your bloomberg silicon valley index closed qlor, apple, google and ebay dragging index down. disney and net flix reached an agreement giving subscribers first access to movies made by pixar, disney and marvel set to be released in to 16. this is the first time that a major studio bypassed traditional cable tv outlets. disney is the parent company of abc 7. at bloomberg studios in san francisco, i'm willow bay with bloomberg west. back to you
around the bay area, we're not at a rainfall deficit now. and not likely to be soon. sheer look at radar satellite posit -- composite image. you can see the next storm not quite so strong as storms we saw over the weekend. it will be wet and i'll show where wet weather will arrive in just minutes. >> thank you very much. well, what a difference a day makes in vallejo. you're looking at roads around a mobile home park near fair grounds. residents evacuated as the water rose quickly. and could have used gondolas to get around. the water receded with only mud and debris to indicate this had been a flood plain. a good indication of the severity of the storm moved through. >> and there is a bit of a detour heading downtown. >> big section of roads in lafayette collapsed yesterday during the storm. abc 7 news explains restoring utilities is easy part. >> it's a huge hole in the middle of mountain view drive forced people to tryout new normal today. they now have a detour in morning routine. >> it's extraordinary. i know it's going to add another i don't know. five to 10 minutes of driving ever
the proposal last week, house republicans offered an outline for $2.2 trillion in deficit reduction mostly through spending cuts, and while president obama would not answer questions about the counterproposal -- >> no deal better than a bad deal, sir? >> thank you. >> reporter: -- a senior white house official assailed it as a step backwards saying if republicans do not agree to some higher rates for wealthier taxpayers, the nation will go over the cliff and the american people will hold the republicans responsible. wall street remains optimistic a deal will be struck, so the lack of progress has not yet resulted in a market plunge, but some economists estimate that because of the uncertainty posed by the fiscal cliff, at least 200,000 fewer jobs have been created this year. and, diane, the official deadline for the fiscal cliff is december 31st at midnight when the ball drops in times square, but there's actually another deadline. the house of representatives is scheduled to go on winter break a week from friday, so really there are only 11 days to work out a plan as of now, diane. >> tal
today, stock prices fell on concern the deficit deadlock here is hurting the economy. dow jones lost nearly 60 points. nasdaq slid eight points and s and p 500 lost about seven today. >> republicans in california are worried about the possibility of taxes going up because there aren't enough of them in sacramento to block it. lawmakers ushered in a new era today at the capitol. and nannette mirror rand wra reports democrats now hold all of the power. >> please raise your right hands, repeat after me. >> it begins with a reshaped legislature. giving them authorities to raise tax was out republicans and still, newly appointed assembly speaker vows to listen to the g.o.p.. >> finding the right solutions to the challenges facing our state is not the task of one party or house. >> already, though, democrats introduced a amendment eastbound making changes to proposition 13, limiting how property taxes are sesd and requires a two thirds vote for any new taxes. asking voters to allow local communities to raise parcel taxes for school was just 55% of the vote. >> allowing the third of the sta
' counterproposal was dead on arrival. the white house quickly rejected the $2.2 trillion deficit reduction plan, that would raise $800 billion in tax revenue over the next decade. but the plan calls for raising the revenue without raising tax rates on top income earners, something the white house views as unacceptable. during a photo op, the president avoided questions about the gop plan. >> no deal better than a bad deal, sir? >> reporter: a senior white house official called the proposal a step backwards. saying if republicans do not agree to some higher tax rates for the wealthy, the nation will go over the fiscal cliff, and the american people will hold them responsible. democrats also take issue with the proposal's spending cuts to medicare and social security. republican counter that tough cuts are needed to tackle the soaring debt, leaving washington locked in a stalemate, less than a month before every american sees their taxes shoot up. the gridlock has irritated people outside washington, like deborah page of arlington, texas. >> if i was working the way the president and congress was
, lebron, cuts the four-point deficit to one. under two minutes to go. wiz up two. kevin saraphin, the hook in the paint. wizards up four. ensuing miami possession. lebron, beautiful pass to dwyane wade for the lay-in. heat down two. miami down three, 6.9 seconds left. lebron, off the mark. and the wizards notch just their second win of the season. >>> let's go to the lone star state. lakers visiting the rockets. kobe, 52 points away from 30,000 for his career. only four other players have ever done that. pau gasol out with tendinitis in both knees. fourth quarter, rockets mounting a comeback. greg smith, the hoop. houston down one after the free throw. rockets up four. kobe bryant, takes the three and it's a one-point game. lakers led by double-digits in the fourth quarter. but l.a., down two. eight seconds to go. kobe, of course, with the ball. pulls the shoot on the three, off the mark. metta world peace, no good. anton jamison misses. l.a. falls to 8-10 on the season. its worst 18-game start since 1993. in the mid-'90s, 1993, james worthy and byron scott were still playing for
, the deep magenta color. that is the 6 to even 12 inches of snow. minneapolis is at an 11-inch deficit. they'll get five to eight. then the cold blast of air comes in. in the teens by monday. starting the workweek this chicago in the teens. dallas could see flakes of snow as well. >> 14 in minneapolis. >>> we turn to a headline that caught our attention here. many americans driving new cars are now being watched by a device right in their own car. tracking the turns and the speed. and it is igniting a new debate tonight about who gets that information. here's abc's mark greenblatt now. >> reporter: you're probably used to hearing about black boxes helping solve airplane crashes. but lieutenant governor timothy murray found out the hard way they're in some cars t when he crashed this one, he said he had a seat belt on and claimed hewas the data recorder said he was driving unbelted and faster than 100 miles an hour. but there's a larger controversy >> there are important safety thhol' but there a who will access the information and how long will it be collected? >> r
increases kick in and tax cuts kick in, they have not compromised to help reduce the deficit. latest senate version would prevent a tax height on the first $250,000 of earning. >> the americans will get a cut on the first $250,000 of their income and families everywhere would enjoy peace of find. the senate has done their part. we are waiting for republicans in the house to do the same thing but so far they have put forward an unbalanced plan that actually lowers rates for the wealthiest americans. >> republican florida senator marco rubio said tax increases will not reduce the nation's $16 trillion debt. >>> officials for the proposed sonoma rail transit project or smart train are looking to get $16.6 million in federal fund to go buy more train cars. today the press democrat reports money otherwise would be used for local pedestrian and bicycle paths. it is committed to go to cloversdale and larkspur but beyond that more rail cars would be needed to carry the load. the request is not sitting well with bicyclist advocates because it would take away about two-thirds of their federal funding
, they have not compromised to help reduce the deficit. the latest senate version would prevent a tax height on the first $250,000 of earning. >> the wealthiest americans would get a tax cut on the first $250,000 of their income and families everywhere would enjoy some peace of mind. the senate has done their part. we are waiting for republicans in the house to do the same thing, but so far they have put forward an unbalanced plan that actually lowers rates for the wealthiest americans. >> republican florida senator marco rubio said tax increases will not reduce the nation's $16 trillion debt. >>> officials for the proposed sonoma-marin rail transit project or smart train are looking to get $16.6 million in federal fund to go buy more train cars. today the press democrat reports money otherwise would be used for local pedestrian and bicycle paths. smart train is committed to go to cloversdale and larkspur, but beyond that more rail cars would be needed to carry the load. the request is not sitting well with bicyclist advocates because it would take away about two-thirds of their federal fund
taxes should be raised on wealthy americans to help reduce the deficit. latest version of the plan would prevent a tax hike on the first quarter million dollars of a person's earning. >> the wealthiest americans would get a tax cut on first $250,000 and families everywhere would enjoy peace of mind. senate has done their part. we're waiting for republicans and so far they have put unballoted plan that lowers rates for the wealthy americans. >> marco rubio says it will not reduce the nation's $16 trillion debt. >> officials for the proposed sonoma marin smart train are looking to get federal funding to buy more train cars. smart train is committed to go to cloverdale and larkspur but more rail cars would be needed. they report that money force the cars would come out of the budget for pedestrian and bicycle paths. bicycle advocates say it will take away two-thirds of their funding setting the plan back five years. >> three women who dined at a stockton card room saying the bill they received was outrageous not because of the price. christina and two friends are mad about a remark typed on
deficit. >> now, if the nation goes over the cliff at the end of the year, it's going to affect everyone, including the unemployed, as abc's jonathan karl reports. >> reporter: melinda vega has been put on notice. if congress and the president don't get their act together, her unemployment checks will stop immediately at the end of the year. >> we're dependent on that money to pay our bills. >> reporter: she's been without a job for a year. her $450 a week unemployment check her life line. >> we won't be able to pay some of our bills and, i mean, you know, that's for christmas and things of that nature, probably off the table. >> reporter: she is not alone. without a deal, unemployment compensation will end for more than 2 million people out of work more than 26 weeks. many of the unemployed started receiving the news this week from prerecorded phone calls like this one in washington state. >> emergency unemployment compensation shuts off end of the december unless congress votes to extend the program. >> reporter: and of course, going off the so-called fiscal cliff means a tax hike for
the deficit, almost everybody's income taxes will go up january 1st. it's more than that. there will be automatic cuts to defense, to medicare doctors, to unemployment benefits. and that could mean another recession, but -- >> right now, i would say we're nowhere. period. we're nowhere. >> reporter: the white house is standing firm on taxes. >> rates have to go up. >> whose taxes are you going to raise? >> rates are going to have go up on wealthy americans. >> reporter: in addition to $1.6 trillion in tax hikes, the white house's latest offer includes $400 billion in unspecified medicare cuts and no limit on how much the government can borrow. the republican response? >> i was just flabbergasted. i looked at him and said, you can't be serious. >> reporter: two prominent republicans told me that house republicans may ultimately give in to the president on extends just those middle class tax cuts. if they do that, george, without a deal on spending, the president would get nothing else and face another big battle early in the year over the debt limit and what the government
backward in terms of negotiations. what the outlying house republican states is $2.2 trillion in deficit reduction. that includes 1.2 trillion in spending cuts. $800 billion in new revenue. optimistic projections. and $200 billion in other measures, such as adjusting the consumer price index. but house republicans say if the president doesn't like this, it's incumbent upon him to offer a plan that can make it through the house and the senate. >> the white house says they want to see the republicans first say that tax rates are going to go up. is there any prospect of a face-to-face meeting between the president and house speaker john boehner in the coming days? and how are they getting along these days? >> reporter: it's unclear how well they're getting along. but speaker boehner did come to the white house for the party at the white house. for the annual congressional party for christmas. but this year, speaker boehner did not pose for a photograph with president obama. that raised some eyebrows certainly. it doesn't seem the two are getting along very well. but at some point, president
for $2.2 trillion in deficit reduction, mostly through spending cuts. and while president obama would not answer questions about the counterproposal -- >> no deal better than a bad deal, sir? >> reporter: -- a senior white house official assailed it as a step backward, saying if republicans do not agree to some higher rates for wealthier taxpayer, the nation will go over the cliff, and the american people will hold the republicans responsible. wall street remains optimistic a deal will be struck. so the lack of progress is not yet resulted in a market plunge. but some economists estimate that because of the uncertainty posed by the fiscal cliff, at least 200,000 fewer jobs have been created this year. the official deadline is december 31st at midnight when the ball drops in times square. the deadline is before that, a week from friday when the house of representatives is scheduled to go on vacation. in actuality there are fewer than 11 days before they need to work out a deal. jake tapper, abc new, the white house. >> that's scary, 11 days. fellows you sit up there until it gets wrapp
of balance. >> reporter: that plan sent to the white house offers a total of $2.2 trillion in deficit reduction over the next decade. that includes $1.2 trillion in spending cuts and $800 billion in new tax revenue, but here's the key. no rate increases in the top 2% of taxpayers. that's non-negotiable for president obama. >> we're not going to be able to got a deal without it. >> reporter: the white house says the republicans' math just doesn't add up. >> it's magic beans and fairy dust. >> reporter: negotiations have reached a stalemate. >> there's nothing going on privately that is not going on publicly. >> reporter: there is no plan at this time for congressional leaders to meet with the president at the white house, and it doesn't sound like he's sending out invitations any time soon. >> i don't think that the issue right now has to do with sitting in a room. >> reporter: earlier, the president met with the bipartisan group of governors. >> we understand this will be a shared sacrifice, you have to look at spending cuts. states are willing to do more with less. >> the governors d
Search Results 0 to 19 of about 20

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